4,000 jobs at risk at Barratts

The high street has suffered another blow after shoe shop chain Barratts
Priceless Group collapsed for the second time in less than three years,
putting close to 4,000 jobs at risk.

Barratts' directors are understood to have taken the final decision to put the company into administration as it became apparent they would have trouble paying December's quarterly rent bill.Photo: REUTERS

Deloitte said it would continue to trade the shops while it sought a buyer for all or part of the business. The administrator said it had already received expressions of interest although a sale of all or the majority of the business could be difficult to achieve given the tough trading conditions in the retail sector.

"Barratts and Priceless Shoes have faced a downturn in trading as a result of the difficult economic conditions," said Daniel Butters, a partner at Deloitte. "This has been exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across winter lines."